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View Full Version : So what happens when the US dollar completely tanks?

Ari Chi3fs
03-25-2005, 03:56 AM
Im sure some of you will have some interesting takes... but the dollar is plummetting... inflation is a concern of the Fed. US dollars are being taken out of circulation in Japan, China, and Middle East... Soon Oil will no longer be traded in Dollars.

I think we are treading on dangerous ground... IMO we are on the cusp of mad craziness.

So the buck tanks, what happens? Any economists amongst us?
BCD
03-25-2005, 05:21 AM
Whatever happens, I'm sure it will be Bush's fault...
Ari Chi3fs
03-25-2005, 05:54 AM
Lets try not to make this about Bush... because its not. Its about America, and our weakening purchase power.
Saulbadguy
03-25-2005, 06:53 AM
We'll use seashells.
Simplex3
03-25-2005, 09:44 AM
Certainly we're not falling behind because, as a country, we're getting lazier every day. After all, it's not my responsibility to take care of myself, it's the govt's.

"Fat, drunk and stupid is no way to go through life, son."
the Talking Can
03-25-2005, 10:03 AM
Im sure some of you will have some interesting takes... but the dollar is plummetting... inflation is a concern of the Fed. US dollars are being taken out of circulation in Japan, China, and Middle East... Soon Oil will no longer be traded in Dollars.

I think we are treading on dangerous ground... IMO we are on the cusp of mad craziness.

So the buck tanks, what happens? Any economists amongst us?

we'll invade Iraq again...[zoiberg voice]mmm, those crab cakes are delicious! what a great party, Chairman Zow Zee Min...[/zoiberg voice]
Iowanian
03-25-2005, 10:18 AM
A country Boy can Survive.
Brock
03-25-2005, 10:20 AM
A country Boy can Survive.

We should go back to beaver pelts.
Mr. Kotter
03-25-2005, 10:22 AM
I'm hoping it will motivate all the people who really believe America to be in significant and sustained decline....to leave the country. Please exit to the left, and take all your deviant friends with you.

France would be a great place for those folks. :thumb:
Cochise
03-25-2005, 10:44 AM
The national bird will be changed to Chicken Little
Michael Michigan
03-25-2005, 10:53 AM
Buy gold.
Radar Chief
03-25-2005, 11:06 AM
The national bird will be changed to Chicken Little

Ah, that reminds me of a stupid joke.

Q: what’s the sexiest creature in all of nature?



A: swallow.
beavis
03-25-2005, 11:41 AM
Soon Oil will no longer be traded in Dollars.
What's going to be used instead? The Euro? Give me a break. It's people like you that allow the likes of Soros and Buffet to make their bazillions.
Duck Dog
03-25-2005, 11:52 AM
What's going to be used instead? The Euro? Give me a break. It's people like you that allow the likes of Soros and Buffet to make their bazillions.


Has Buffet ever claimed to have bought and owned a political party? No...wait....that was Soros. I remember now, it was Soros.

It's amazing how someone can be so rich to you think you've bought yourself and idealogy.
BCD
03-25-2005, 12:04 PM
So what happens when the US dollar completely tanks?
I'll have to bust out the Monopoly money. OOOH! No, wait. 'Life' money...
BIG_DADDY
03-25-2005, 12:07 PM
When you stop seeing imports you can start getting worried. For the time being all I can say is I don't think it will happen.
Slayer
03-25-2005, 12:45 PM
Buy gold.

Hell no! We are not going back to the days of hard money...those days ended when Jackson's effect on the economy finally wore off, and we don't want to run that risk anymore.
Amnorix
03-25-2005, 01:05 PM
What's going to be used instead? The Euro? Give me a break. It's people like you that allow the likes of Soros and Buffet to make their bazillions.

errr....out of simple curiousity, which is this so utterly unthinkable? I mean, it's not going to happen in the next year or three, but in 25 years? If we keep piling onto the debt and our currency faces increased pressure?

What we also need to realize is that the American dollar has been a safe haven for international currency traders and central banks since the end of World War II, because our country represented the gold standard of stability and economic viability. We are still, of course, by far the world's largest economy, but if the EU manages to become truly stable and coherent, and if the US doesn't change it's absurd fiscal policies of the last 25 years, it's ENTIRELY possible that we will be eclipsed by the end of the century, if not sooner.

Remember, during the entire 1800s London was the ABSOLUTE center of the financial world. By the end of World War I, New York had begun to compete for that title. By the end of WWII, New York had utterly eclipsed London, and the American dollar became what it remains today -- the most popular of all currencies.

It's not like we've dominated for the last 200 years and nothing is on the horizon to threaten that domination. Military power is usually DERIVED FROM economic power, not the other way around.
RINGLEADER
03-25-2005, 01:27 PM
Get rid of all entitlements and we'll be in great shape!

:thumb:

Seriously, the reason the dollar has such support is due in large part to the fact that it is the most stable economy on the face of the planet. I guess the Europeans can buck two millenia of history but I think it would be some time until the US economy is allowed by those holding debt to falter to such a degree that the Euro becomes a safer play.
Donger
03-25-2005, 02:54 PM
but the dollar is plummetting.

No, it isn't. In fact, it rose something like three percent against the euro and the yen this week.
Ari Chi3fs
03-25-2005, 09:22 PM
Buy gold.

been doing that, I have over a couple pounds of it. :) almost 3 lbs. and accumulating.
Ari Chi3fs
03-25-2005, 09:25 PM
What's going to be used instead? The Euro? Give me a break. It's people like you that allow the likes of Soros and Buffet to make their bazillions.

I dont make the economics. I dont make the rules. Mark my words, Beavis, son... dollars will no longer be the currency of preference for buying/selling oil. It will happen soon, the only reason it hasnt happened yet, is we kiss the Sultan of Saudi's ass so much.